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Musk’s Team Gains Access To Sensitive Federal Payment Systems, Sparking Controversy

In a move raising eyebrows across Washington, Elon Musk’s Department of Government Efficiency (DOGE) has been granted access to the federal payment system, which handles trillions of dollars in government funds annually, according to US media reports.

While DOGE is not an official agency but a team within the administration, sources suggest the group now has access to sensitive personal data of millions of Americans, raising concerns about privacy and oversight.

The situation reportedly led to a standoff at the United States Agency for International Development (USAID), where two officials were placed on leave after resisting DOGE’s efforts to access critical government systems.

The White House and Treasury Department have yet to comment. Just days after President Donald Trump announced the formation of DOGE, the team has spread across federal agencies with the goal of slashing government spending.

Musk, who helped establish the team, has enlisted support from allies in Silicon Valley and his private companies. This has created turbulence at agencies like the Treasury Department and USAID—two entities Musk has criticized on social media. On X (formerly Twitter), Musk called USAID “evil” and accused Treasury officials of “breaking the law every hour of every day,” further stoking controversy.

The Treasury division involved in these changes handles critical federal payments, including Social Security, government salaries, and money allocated by Congress—totaling nearly $6 trillion.

The controversy also extends to USAID, which distributes billions in aid. The agency’s website went offline, and its X account appears to have been deactivated. Reports claim DOGE members sought access to a classified facility, a SCIF (Sensitive Compartmented Information Facility).

Meanwhile, the broader federal workforce faces changes under Trump’s administration. Executive orders have sparked confusion, with employees receiving instructions to report colleagues allegedly disguising diversity efforts and encouraged to take paid resignations, leading to unease.

In response, many agencies, including the CDC, have removed references to diversity and inclusion and LGBTQ+ content from their websites, resulting in broken links, including those on LGBTQ+ health and mpox vaccines. While supporters argue diversity programs address historical inequalities, critics claim they can create new forms of discrimination, intensifying the debate.

Central Bank Of Cyprus Balance Sheet Reflects Strong Eurosystem Position

Overview Of Financial Stability

The Central Bank of Cyprus (CBC) has released its latest balance sheet, reaffirming its steadfast role within the Eurosystem. The balance sheet, featuring total assets and liabilities of €29.545 billion, underscores the institution’s stable financial posture at the close of January 2026.

Asset Allocation And Strategic Holdings

Governor Christodoulos Patsalides issued the balance sheet, which details the CBC’s asset composition under the Eurosystem framework. Notably, the bank’s gold and gold receivables amounted to €1.635 billion, providing a significant hedge and stability to its balance sheet. Additional asset categories include claims on non-euro area residents denominated in foreign currency at €1.099 billion, while claims on euro area residents in both foreign and domestic currency add further depth to its portfolio.

The most substantial asset category, intra-Eurosystem claims, reached €19.438 billion, an indication of the CBC’s deep integration with its European counterparts. Furthermore, euro-denominated securities held by euro area residents contributed €6.587 billion. Despite a marked emphasis on these areas, lending to euro area credit institutions in monetary policy operations recorded no activity during the period.

Liability Structure And Monetary Policy Implications

On the liabilities side, banknotes in circulation contributed €3.218 billion. Liabilities to euro area credit institutions associated with monetary policy operations were notably the largest single category, totaling €17.636 billion. Supplementary liabilities included those to other euro area residents, which aggregated to €4.989 billion, with government liabilities playing a predominant role at €4.754 billion.

Other liability items, such as claims related to special drawing rights allocated by the International Monetary Fund at €494.193 million, and provisions of €596.571 million, further articulate the CBC’s exposure. Revaluation accounts stood at €1.643 billion, and overall capital and reserves were confirmed at €333.822 million, completing the picture of a well-capitalized institution.

Conclusive Insights And Strategic Alignment

The detailed breakdown illustrates the CBC’s sizeable intra-Eurosystem exposures, reinforcing its central role within Europe’s monetary landscape. With an asset-liability balance maintained at €29.545 billion, the CBC’s financial position remains robust, indicating a commitment to structural stability and strategic risk management.

This fiscal disclosure not only provides transparency into the CBC’s operations but also serves as a benchmark for comparative analysis among other central banks within the Eurosystem, highlighting the intricate balance between asset liquidity, regulatory oversight, and monetary policy imperatives.

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